SALEM, Ohio, Nov. 23 /PRNewswire-FirstCall/ -- Giant Motorsports, Inc. (OTCBulletinBoard:GMOS) (the 'Company'), a leading retailer of motorcycles, ATV's and powersports accessories released its financial results for the third quarter and first nine months ended September 30, 2007 on Wednesday November 14, 2007. Giant's BIG-BOX retail strategy represents a solid business model and corporate management structure for consolidating the motorcycle industry.
In a management analysis of the 3 month financial results for the period ended September 30, 2007, income from operations continued to show significant growth with an increase of $479,995 (224.0%) to $694,320 in 2007, which is up from $214,325 for the same period in 2006. (Complete financial results are available in the 10Q)
"We reduced selling costs significantly, continued to attract customers, and increased our gross profit by nearly 2 points. We are very pleased with our 3rd quarter results. Our strategy continues to demonstrate its effectiveness." said Greg Haehn, COO.
About Giant Motorsports, Inc.
Giant Motorsports is a destination retailer for motorcycles, all-terrain-vehicles (ATVs) and motor scooters. Through implementation of a business strategy based on a regional "big-box" retailer model, Giant believes it has become a leading multi-brand motorsports retailer in the United States. The Company is attempting to leverage revenue and earnings growth through accretive acquisitions in new regions, through internal growth, and through utilization of rollup and consolidation strategies in the fragmented powersports national dealer environment. The Company has two wholly-owned subsidiaries, W.W. Cycles dba Andrews Cycles and Chicago Cycles. More information is located at http://www.giantcorporate.com, http://www.andrewscycles.com or http://www.chicagocycle.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: sales of its motorcycle and powersports products; the implementation and expansion of Giant Motorsports business strategies; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Giant's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Giant's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Giant undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Source: Giant Motorsports, Inc.